Union Commerce Minister Piyush Goyal in a press conference announced that India has seen the highest level of exports in the first quarter of FY21. In terms of numbers, the exports are said to be measured at $95 billion which is 16 percent more as compared to Q1 exports in FY18-19 which was $82 billion. In Q4 of FY 20, exports crossed $90 billion.
Giving hope to the industry sentiments, Goyal said that every possible measure is being taken to make sure that the Indian economy recovers from the dastardly effects of the COVID-19 pandemic.
He further added that FDI and the nation’s exports have increased over time and stringent steps will be taken to aid the efforts of improving the country’s medical and financial infrastructure.
Picture this, FDI inflow for FY20-21 was $81.72 billion, whereas the FDI inflow in April of 2021 stands at $6.24 million, which is a 38 percent increase against April 2020 said, Goyal.
Despite the fact that the second wave of pandemic left severe bruises on the economy, the country’s exports seem to remain unaffected in the first quarter of 2021 from the months of April to June.